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LIVE AND INVEST IN PANAMA
WORLD’S #1 RETIREMENT HAVEN
IN THE AMERICAS
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San Francisco is Panama City’s best option for living a quiet, residential, urban lifestyle. This is a rapidly growing middle-, upper-middle, and upper-class neighborhood with a mix of homes and high-rise apartments.
And, if you’re looking for a peaceful neighborhood atmosphere, there are zones and residential communities consisting of just homes, without towering complexes.
Not many neighborhoods in Panama City match what San Francisco offers:
The corregimiento of San Francisco stretches from Panama Viejo in the northeast to the Cinta Costera in the southeast, with Vía España as the northwest boundary. This includes other neighborhoods like Punta Pacífica, Paitilla, and Coco del Mar.
San Francisco is a nice residential area with all the necessary amenities of urban living, though with less nightlife than El Cangrejo, fewer tourists than Casco Viejo, shorter buildings than the skyscrapers in Punta Paitilla, and quieter streets than much of the rest of the city center.
Unless you live right beside one of the neighborhood’s thoroughfares like Calle 50, Vía Israel, or Vía Porras, you won’t have to worry about the sounds from the street drowning out the conversations in your living room.
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
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As a couple, you’ll spend about US$3,578 a month living in San Francisco. It’s one of the more expensive corregimientos in Panama City, but the quality of life is well worth the price tag.
You’ll spend US$2,000 a month or more renting a three-bedroom, modern home. But you can opt for an apartment and spend US$1,500 a month or less on rent.
Expert tip: You can search on local websites like Encuentra 24 or on local Facebook and Instagram pages, to find nice prospects for as little as US$800 to US$900 a month.
Panama uses the U.S. dollar.
| Expense | Monthly Costs | Notes |
|---|---|---|
| Mortgage | - | Not included here as too variable. |
| HOA Fees | - | Variable and paid on a per-square-meter basis. Budget US$1.50 per square meter for a mid-range property and US$3 per square meter for a luxury property. Amount depends on amenities, number of people living in the building, and the level of quality of the unit. |
| Property Taxes | - | Not included here as too variable. |
| Transportation | US$175 | Fuel and maintenance for a private vehicle plus the occasional cab or public transportation. |
| Gas | US$6.50 | A tank of cooking gas generally lasts longer than one month. |
| Electricity | US$200 | Using air conditioning. This will vary greatly depending on use. |
| Water | US$18 | Most new condos include the water bill in the maintenance fee. |
| Cell Phone | US$40 | Basic Tigo plans for two people. |
| Internet | US$65 | For a Tigo plan with high-speed internet (750 Mbps) and 220 TV channels. |
| Cable TV | – | Bundled with internet. |
| Household Help | US$280 | For a five-hour day twice a week. Comes out to US$35 per day. |
| Entertainment | US$653 | Eating out twice a week at a mid-range, local restaurant: US$100. Local drinks twice a week at a nearby watering hole: US$60. Movie theatre trip twice a month: US$13 (US$3.25 per ticket for seniors). |
| Groceries | US$500 | Shopping at local supermarkets and PriceSmart. |
| Gym Membership | US$62 | Two all-inclusive plans at Smart Fit gym per month. |
| Medical Appointment | US$25 | A general consult at a private clinic. |
| TOTAL | US$2,024.50 | Doesn’t include property taxes, mortgage, or HOA fees. |
| Expense | Monthly Costs | Notes |
|---|---|---|
| Rent | US$1,500 | Cost of a two-bedroom furnished apartment in a central location. |
| Transportation | US$175 | Fuel and maintenance for a private vehicle plus the occasional cab or public transportation. |
| Gas | US$6.50 | A tank of cooking gas generally lasts longer than one month. |
| Electricity | US$200 | Using air conditioning. This will vary greatly depending on use. |
| Water | US$18 | Most new condos include the water bill in the maintenance fee. |
| Cell Phone | US$50 | Basic Tigo plans for two people. |
| Internet | US$70 | For a Tigo plan with high-speed internet (750 Mbps) and 220 TV channels. |
| Cable TV | – | Bundled with internet. |
| Household Help | US$280 | For a five-hour day twice a week. Comes out to US$35 per day. |
| Entertainment | US$653 | Eating out twice a week, mid-range, local restaurant: US$100. Local drinks twice a week at a nearby watering hole: US$60. Movie theatre trip twice a month: US$13 (US$3.25 per ticket for seniors). |
| Groceries | US$500 | Shopping at local supermarkets and PriceSmart. |
| Gym Membership | US$62 | Two all-inclusive plans at Smart Fit gym per month. |
| Medical Appointment | US$30 | A general consult at a private clinic. |
| TOTAL | US$3,544.50 | Doesn’t include property taxes, mortgage, or HOA fees. |
| Expense | Monthly Costs | Notes |
|---|---|---|
| Rent | US$900 | Two-bedroom unfurnished apartment. |
| Transportation | US$100 | Walking/cycling wherever possible and using public transportation and cabs. |
| Gas | US$6.50 | A tank of cooking gas generally lasts longer than one month. |
| Electricity | US$120 | Air conditioning at night and fans during the day. |
| Water | US$18 | Most new condos include the water bill in the maintenance fee. |
| Cell Phone | US$50 | Basic Tigo plans for two people. |
| Internet | US$53 | Tigo plan with high-speed internet (300 Mbps) and 220 Cable TV channels. |
| Cable TV | - | Bundled with internet |
| Entertainment | US$327 | Eating out once a week at a mid-range, local restaurant: US$50. Local drinks once a week at a nearby watering hole: US$30. Movie theatre trip once a month: US$6.50 (US$3.25 per ticket for seniors). |
| Groceries | US$500 | Shopping at local supermarkets, farmer’s markets, and buying all local-brand products. |
| TOTAL | US$1,864.50 |
San Francisco is a popular neighborhood among expats and foreigners. It’s unknown how many expats live in San Francisco, but it’s a sizeable community.
Expats are drawn to San Francisco because it offers something for every budget. It features the perfect balance between urban and suburban living.
For many expats it’s more appealing than Áreas Revertidas or Costa del Este since it is in the heart of the city, with easy access to banking and business centers.
Most importantly, this is an appealing area for families because there are still zones that consist entirely of private homes with sizeable yards.
There are plenty of diversions and extracurricular activities for children, and Parque Omar regularly offers activities for kids.
We recommend you learn Spanish so you can enrich your experience. Just because you can get by with English doesn’t mean you’d be living a full, well-rounded life without knowing Spanish.
Learning the basics of Spanish will make things like dealing with service people (electricians, mechanics, gardeners, police, etc.) who may not speak any English much easier.
San Francisco is home to the “Central Park” of Panama City—Parque Omar, a 140-acre green sanctuary surrounded by a concrete jungle.
Formerly a golf course, the park today is covered with trees, providing plenty of shade. You can run, jog, bike, or walk the trail that encircles the park or workout on the free outdoor exercise equipment.
Parque Omar holds open-air concerts during the dry season (mid-December through April). You’ll also find the National Library, art displays, historical monuments, food carts, fruit and smoothie/juice stands, film screenings, plays, and several festivals.
The Children’s Festival is celebrated here every year with three days of games, culture, and education for kids of all ages.
Multiplaza Mall is a shop-a-holic’s paradise with more than 500 shops ranging from low- and mid-end to luxury stores like Louis Vuitton, Versace, Dolce & Gabbana, Coach, Rolex, and many others—there’s an entire hall dedicated to the highest-end shops.
You’ll also find U.S.-brand stores like American Eagle, GAP, Calvin Klein, Express, Tommy Hilfiger, and many others, as well as European brands, like H&M, Lacoste, and Armani, and Panamanian stores like Steven’s.
Multiplaza is also home to a Cinepolis movie theater with a VIP room and 3D showings.
San Francisco is one of the safest neighborhoods in Panama City. However, you should take precautions if walking around at night, as you would in any other part of the world.
You can feel safe walking outside during the day—there are always crowds of people out and about.
Robberies, theft, and petty crimes are most common in San Francisco, and they’ve decreased in recent years thanks to neighborhood watch groups and an increase in police foot patrols.
Panama is The Pensioner’s Paradise, a place that showers retirees with exclusive perks like tax waivers, duty-free imports, and up to 50% discounts on most of your bills…
Indeed, Panama could arguably be called the world’s best offshore haven. There is no doubt that Panama has serious advantages for those looking for a country with a cheaper standard of living than the United States and Europe.
Also, Panama is blessed with beautiful islands, ample coastline beaches, mountain retreats, and colonial towns.
Even before the Panama Canal was built, everyone wanted a piece of the golden pie. It was as if this little country’s growth was strangely predicted, pushing the Spanish, later the French, and then the Americans to dwell and build here.
It was the Canal, though, that really pushed Panama onto the global stage.
Panama City is the banking and financial hub of the entire region, and here, you can expect every First World amenity you can imagine.
San Francisco is located in Panama City. The weather here is consistent throughout the year.
The daytime temperature is about 86°F (30°C). At nighttime the temperature drops to about 75°F (about 24°C).
During the summer months, Panama City averages up to eight hours of sunshine each day and you don’t need to worry about what shoes you’ll wear and whether or not you should bring a raincoat or umbrella with you.
But, during the rainy season, the amount of sunlight hours is just six hours, and it’s almost always guaranteed that it’ll start raining past noon.
Make sure to use closed comfortable shoes and always bring an umbrella or a raincoat with you.
Panama’s two finest private hospitals are in the corregimiento of San Francisco.
Pacífica Salud (Hospital Punta Pacífica) is affiliated with Johns Hopkins Hospital in the States and offers outstanding care in the areas of urology, cardiology, orthopedics, physical therapy, gynecology and obstetrics, nephrology, endocrinology, and more.
Hospital Paitilla is another world-class medical institution with cardiology, plastic surgery, dermatology, endocrinology, speech therapy, gastroenterology, geriatrics, gynecology and obstetrics, and many other departments.
Both facilities also offer internal medicine, general surgery, and specialized surgery, like brain and heart operations.
There are many private clinics throughout San Francisco with general and specialty doctors. If you’re looking for a chiropractor, physical therapist, allergist, dentist, orthodontist, fertility specialist, mental health expert, or another practitioner, you won’t need to leave San Francisco to get the care you need.
Plus, you’ll find pharmacies throughout the neighborhood, in case you need prescription medications.
In short, health care in Panama boasts highly trained doctors and state-of-the-art private hospitals, all at a fraction of the cost compared to the United States—up to five times less expensive.
U.S. citizens may enter Panama without a visa and remain in the country as a tourist for a maximum of 180 days per trip. And, if you wish to stay longer than 180 days, you need to seek permission to remain in the country.
The Specific Countries visa program is available to citizens of 50 specifically named countries, including the United States. if you hold a passport from one of the 50 countries on the list, this is the best Panamanian residency option after Panama’s pensionado visa.
Panama’s pensionado program offers special benefits and discounts for foreign retirees. To sum up, it’s the current Gold Standard.
Retiring in Panama, you can save as much as 50% on everything from restaurant meals to in-country airfares, and from prescription medicines to closing costs on your new beach house.
Panama’s Visa has been attracting foreign retirees in growing numbers for more than a decade.
As a result, it offers many and very user-friendly options for establishing foreign residency if you want to live here full-time, and it is home to established and welcoming communities of expats and retirees. And, San Francisco, Panama, is an ideal option for both.
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2024
We Value Your Privacy! We will not share your email address with anyone else, period.
Tap water is safe in Panama. However, if you travel to more remote areas, particularly if a larger indigenous community lives nearby or if there are farms in the area, we suggest you drink bottled water.
And, if you’re in Panama City, David, Santiago, the City Beaches Area, El Valle, and many other areas where large expat communities live, tap water is generally safe.
To live in Panama full-time, you’ll need to apply for a residency visa. Most importantly, you can arrive in Panama with your U.S. passport without a visa on your first scouting trip if you plan to stay for up to 180 days.
Yes. If you live in Panama and still hold your U.S. citizenship, then you must keep up to date with your taxes same as you would if you were back home.
Expats have chosen many places throughout Panama to settle in. It really all comes down to what lifestyle you’re looking for.
For example, if you’re a city person you might be interested in moving to neighborhoods such as El Cangrejo, Avenida Balboa, Paitilla, Albrook, or Clayton.
If you’re looking to live closer to the beach, the City Beaches area is very popular. The most popular town in this area is Coronado, but places like Gorgona are becoming more and more popular.
If you’d like to live someplace with an already very well-established expat community where you can get by with little to no Spanish and a laidback lifestyle, the mountain town of Boquete is the place for you.
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